Opec rejects projection that global demand for oil has peaked

The world’s most powerful oil-producing nations have denied that oil demand may have already reached its peak and have claimed that the world will continue to consume more fossil fuels for almost 20 years. A new report from the Opec oil cartel, which represents the interests of countries including Saudi Arabia and Iran, has predicted that the world’s appetite for […]

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Joe Biden and OPEC threatening US oil independence

Trump: US is now ‘energy dominant’ President Trump says the U.S. is the number one producer of oil and natural gas in the world. The battle to win U.S. energy independence has been long, hard and well worth it but the industry is facing new foreign threats from OPEC as well as right here at home from Democratic Presidential nominee […]

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Crude Oil Futures End Sharply Lower

Crude oil prices drifted lower on Friday as concerns about the outlook for energy demand resurfaced due to rising tensions between the U.S. and China over Hong Kong. The Chinese government’s decision that it will not publish an annual growth target due to uncertainties amid the coronavirus pandemic also weighed on crude oil prices. Output reductions by OPEC and allies, […]

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